Tax Strategy and Filings

CPA Web Books is experienced and well equipped when it comes to Compliance Services. We specialize in all kinds of business tax filings, and we are experts at dealing with those dread letters from the IRS and other taxing entities.

Income Tax Services:

Partnerships and S-Corps:

Many of our clients take advantage of these pass-through type entities.  While these tax returns tend to be more complex, we help maximize their benefits.

  • Form 1065 and Form 1120-S Tax Return Preparation

  • Shareholder / Partner health insurance

  • Distribution / Guaranteed Payment arrangements

  • Depreciation and Section 179

  • Rent payments

  • Active vs Passive participation

  • Retirement / Tax Deferred plans

  • Augusta Rule (14 day homeowner rental strategy)

  • Coordination of related personal tax returns

  • US Foreign Tax Filings

C-Corporations

Many of our clients like the simplicity of C-corporations.  While there is a risk of double taxation, simple tax planning can often reduce or eliminate the corporate tax.

  • Form 1120-C Tax Return Preparation

  • Payroll bonuses

  • Dividends

  • Rent payments

  • Stock sales

  • US Foreign Tax Filings

Single Member LLCs vs. Sole Proprietors:

Our small business clients often choose the cheapest and simplest way to organize their business: Limited Liability Company.  

Why be an At-Risk, Sole Proprietor when you can organize with your state as an LLC and separate your business risks from your personal assets?

  • Form Schedule C (business) and Schedule E (rental) Tax Return Preparation

Individual Tax Returns

We prepare all kinds of personal tax returns, specializing in the more complex.

  • Form 1040 Tax Return Preparation

Other Tax Filing Services

US Foreign Tax Filings

This is perhaps some of the most complex areas of tax compliance, and we’ve got you covered:

  • US taxpayers owning foreign corporations: Form 5471 Preparation

  • Foreign owners of US entities: Form 5472 Preparation

  • US taxpayers owning foreign bank accounts and assets: FBAR and FFAR Preparation

Sales Tax

Many businesses are required to file monthly, or semi-annual Sales Tax returns.

  • Preparation of Online Sales Tax returns and electronic payment

  • Customized reports out of Quickbooks Online to assist with compilation of the returns

  • Reliable, timely filings

1099 Filings

If you pay unincorporated businesses and individuals more than $600 in a year, a 1099 is required.  If you pay interest and or dividends, a 1099 is needed too.

  • Preparation of Forms 1099: Miscellaneous, Interest, and Dividend types

  • Federal copies submitted electronically

  • Recipient copies emailed or snail mailed

  • Customized reports from Bill.com and Quickbooks Online to assist with compilation of the returns

OH Commercial Activity Tax

If you're located in OH, or do business in OH you may need to file the CAT.

  • Preparation of CAT return

  • Assist with determining your CAT filing obligations

  • File and pay the CAT online

  • Customized reports from Quickbooks Online to assist with compilation of the return